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2922 N 35th Street - Wellington Apartments, Phoenix, AZ

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2922 N 35th Street - Wellington Apartments

Phoenix, AZ 85018 - Hacienda Del Campo MF Submarket

Property Type:Multi-Family Number of Units:21 Status:Existing Year Built:1968
Stories:2 Building Size:13,380 SF Land Area:.66 AC (28,615 SF)
For Sale Price:$1,350,000 Price/Unit:$64,285.71 Cap Rate:7.00 % GRM:-

Parking:1.59 Parking Spaces / 1,000 SF

Located in a strong East Phoenix sub-market just south of the Camelback Corridor. Near the 202 and on the Thomas or 32nd Street Bus Lines, there is over 1.5million square feet of shopping within walking distance of the complex, and being on 35th Street it is off the major traffic of Thomas Road.

Sale Notes:
Marcus & Millichap is pleased to announce that it has been retained as the exclusive advisor for Wellington Apartments, 21-units located in Camelback East Village. Wellington Apartments is a rare value-add opportunity situated in the path of significant growth and redevelopment within the Thomas Road corridor, one of the most heavily travelled thoroughfares in Phoenix.

Built in 1968, Wellington is a one- and two-story, garden-style apartment community. The property has been converted from a master metered building on a chiller system to a sub-metered building with all new individual HVAC units and a new roof. The property consists of (19) one-bedroom/one-bath units and (2) two-bedroom/one-bath units. The building is of block construction with a pitched roof and the apartment homes feature walk-in closets, frost-free refrigerators, and extra storage in two large storage rooms. The community amenities include barbeque grills, on-site laundry room, and covered parking.

Marcus & Millichap Inc
Rich Butler
(602) 687-6782

Brian Tranetzki
(602) 687-6755

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